Interest Review

Interest Review

TODAY is Quiz Day!!!

Simple Interest Formula

I = Prt

To Find Simple Interest Account Balance

A = P + I

Multiple Choice

Kayla is going to buy a new camera for $350 the interest on it will be 5.4% for 1 year. How much is she going to pay for the camera?

• $368.90

• $18.90

• $331.10

• $189.05

Compound Interest Formula

A = P(1 + r)^t

To Find Compoun Interest

I = A - P

Multiple Choice

Zach's parents put $1,500 in her bank account for college tuition. At an interest rate of 8.25% compounded annually, what will be the interest paid after 18 years?

• $4,748.76

• $6,314.08

• $6,385.72

• $6,427.94

Poll

How do you feel about interest now?

• Great!!

• Ok.

• It's kinda hard.

• I don't understand at ALL!!!